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Empresas y finanzas

Mattel surprises with quarterly profit


    NEW YORK (Reuters) - No. 1 toy company Mattel Inc surprised Wall Street with a quarterly profit on strong demand for its classic brands and newer product lines, in yet another sign of a revival in consumer demand.

    The news came a week after top U.S. retailers posted a record rise in monthly same-store sales for March [ID:nN08170785] and fueled hopes that the U.S. economy had turned the corner.

    MATTEL (MAT.NQ) the maker of Barbie dolls and Hot Wheels cars, introduced a line of action figures based on popular World Wrestling Entertainment characters such as "Triple H" and "The Undertaker" earlier this year.

    The company, whose rivals include U.S.-based Hasbro and Hello Kitty creator Sanrio Co Ltd <8136.T> of Japan, is also betting on new toys under the "Thomas & Friends" license and the "Toy Story 3" movie franchise this year.

    Mattel said its first-quarter net profit was $24.8 million, or 7 cents a share, compared with a year-earlier net loss of $51 million, or 14 cents a share.

    Analysts on average were expecting a loss of 3 cents a share, according to Thomson Reuters I/B/E/S.

    Net sales rose 12 percent to $880.1 million, boosted by both U.S. and international markets. The analysts' average estimate was $860 million.

    While sales increased 5 percent for both Barbie and Fisher-Price brands, they rose 9 percent at Hot Wheels and 6 percent at American Girl.

    (Reporting by Dhanya Skariachan; Editing by Lisa Von Ahn)